Kuwait's Al-Hasawi closes in on Notts Forest deal

Kuwait's Fawaz Al-Hasawi is to take over Nottingham Forest Football Club.

Kuwaiti businessman Fawaz Al-Hasawi said on Saturday that "exciting times" were ahead of Nottingham Forest as he prepares to complete the deal for the English Championship football club.

In a statement, he said he was currently completing due diligence and negotiations were progressing well. It did not give a value for the deal to buy the club.

Al-Hasawi, whose family made their fortune in the refrigeration business, said he looked forward to achieving "the highest levels of success" at the club which won the European Cup, now the Champions League, twice in the 1980s.

Al-Hasawi said: "The future on-field and off-field success of Nottingham Forest is at the heart of our plans which we will of course announce in due course.

"We understand this is a difficult time for the club and its supporters and look forward to working with you in achieving the highest levels of success."

The acquisition of a football club would give Al-Hasawi automatic membership to an elite club of Gulf investors that own European football teams.

Abu Dhabi United Group Investment and Development Limited, led by Sheikh Mansour bin Zayed bin Sultan Al Nahyan, acquired Manchester City for a reported $321m in summer 2008.

Qatar Sports Investments bought a 70 percent stake in French football club Paris Saint-Germain (PSG) in June last year. The investment firm became the sole shareholder of the club after purchasing the remaining 30 percent stake in March.

Hi Paul - Al Hasawi are a group of intellect people. Though they started with refrigeration business, they have a foresight to increase their business enormously. Not only are they number one in Fashion Garments at affordable prices, they are also doing extremely well in the million dollars Cosmetic industry. So my friend now that they have acquired Nottingham Forest, rest assured they will build up the academy like never before. Wait and watch. Oh well you will get to see the best players from the Gulf too.

Posted by: jim turton
Saturday, 7 July 2012 5:17 PM[UAE]
- uk

well they can only be good for the forest their is know reason why we cannot be as big as liverpool take down main stand put in hotel and triple decker increase ground to 50 k buy sensceible players take over the premier league hammer every body win champions league facup and league cup then WAKE UP i love forest forever win or loose that is the difference betwin other clubas and us we are forest forever

Great news for Nottingham Forest, we wish you well.
Will someone now come and buy West Bromwich Albion Football Club please.As an established Premiership club which has been run impeccably by the current owners for many years. A fantastic stadium, fan base and management set up in place.
This could be the safest sport investment ever! You heard it here first. Just google "WBA FC".